ExxonMobil to proceed with multibillion-dollar expansion of Singapore refinery
ExxonMobil announced it has made a final investment decision on a multibillion-dollar expansion of its Singapore refinery. The project will deploy proprietary technologies to upgrade fuel oil to higher-value products, including Group II base stocks and low-sulphur fuels.
The expansion is part of the company’s plan to further enhance the Singapore facility’s competitiveness and will contribute to doubling downstream and chemicals earnings by 2025, making this project the largest downstream investment since the Exxon™-Mobil™ merger in 1999. Engineering, procurement and construction activities have begun. Startup is anticipated in 2023.
“The demand for high-quality fuels and lubricants will only increase as the global economy expands,” said Bryan Milton, president of ExxonMobil Fuels & Lubricants Company. “Our strengths in integration and technology will be on full display in Singapore as we advance this project to meet the growing demand for cleaner fuels and elevate our competitiveness in global refining and chemicals.”
The expansion will result in the increased production of cleaner fuels with a lower sulphur content, including high-quality ExxonMobil marine fuels to help customers meet the International Maritime Organization’s 0.50 percent sulphur cap requirement.
The project will utilize a unique combination of proprietary ExxonMobil catalyst and process configuration technologies to upgrade and convert fuel oil into higher-value products. As part of the expansion, ExxonMobil will introduce a new, unique high viscosity Group II base stock to the marketplace.